As part of the Fed’s year-long review of its monetary policy strategy, tools and communications practices, the St. Louis Fed is assembling members of its six advisory councils, representing a geographically and industry-diverse group of stakeholders.

St. Louis Fed President James Bullard said that, in his view, the "too big to fail" problem has not been solved. He noted that he would prefer to have more firms that were smaller, which would ultimately lead to more innovation.